An Overdraft is the ideal way to manage your cash flow. It is a fluctuating “loan” linked to a business current account.
What does it offer you:
- Cash when you need it
- You pay interest only on the amount you use
- Interest accrues daily on the outstanding amount and is payable at the end of the month
- Facility is available for use for 12 months and is renewable subject to good performance.
What you need to apply:
- Business registration documents
- Six months’ statements from another bank
- Three years’ financial statements and cash flows
- Accepted collateral includes, but is not limited to, landed property, cash or investments (Treasury Bills) and Bank Guarantee from a reputable bank
- Favourable credit bureau report.
You may need to meet other conditions or give us more documents subject to specific borrower conditions.